Wesleyan Assurance Society, the financial services specialist for doctors, dentists, teachers and lawyers today announced new business results for the nine months ending 30 September 2011:
- 19% increase in overall new business sales to £36.5m* including
- 54% increase in life and savings products*
- 23% increase in ISA and unit trust sales*
Wesleyan has continued to show strong growth since the start of the credit crunch with a 48% growth in total new business sales over the four year period from end September 2007 to the same period 2011.
Craig Errington, Wesleyan's Chief Executive said: "In the face of continued economic uncertainty our customers are putting away money for a rainy day. The increase in sales of savings products indicates that they are looking for a safe place to invest and value Wesleyan's track record of financial strength and investment performance.
"Many of our customers are also facing uncertainty in their professional life from changes in the NHS through to the Legal Services Act. The public sector pension review will also impact a significant number of them. By ensuring we continue to understand the changes in their world we can provide the best service to support them.
"We believe that our business model, offering tailored financial services and products supported by sales teams who have a real understanding of their customers' professional lives, has put us in strong position especially compared to many other providers."
Bryan Jackson, Wesleyan's Chairman added, "Wesleyan has always taken a prudent approach to managing the business and we have grown in an organic way while keeping a close eye on costs. We take seriously our commitment to customers and staff and we are benefitting from their loyalty to us."
Wesleyan's ability to grow despite the recession has been recognised by others in the business world as Chief Executive Craig Errington was named the Institute of Directors' Director of the Year in September. The following month the Society won the Professional Services Advisory category at the Birmingham Post awards, with the judges highlighting its clear focus on people as contributing to its ongoing success.
* Annual Premium Equivalent - new annual premiums plus 10% of single premiums